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Author: ngcpa Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: Re: Help with Options for Parents Date: 1/14/2004 4:03 PM
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A self employed person has many options. The best (largest contribution)
would be a 401K/profit sharing plan. Assuming they have enough income,
they could contribute $ 16,000 (if over 50) plus roughly 20% of their net
self employed income (for 2004 - this number will increase as employee 401K
plans will to eventually $ 20,000). I have a plan like this through
Fidelity. This would not interfere with their Roth IRA contributions of
$ 3,500.
:>) Norm
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